Business
Dropbox Announces Fiscal 2020 Second Quarter Results
Revenue of $467.4 Million, Up 16% Year-over-year Net Cash Provided by Operating Activities of $145.9 Million and Free Cash Flow of $119.8 Million GAAP Net
About this update from Dropbox, Inc.
[{"type":"text","content":"\nRevenue of $467.4 Million, Up 16% Year-over-year\nNet Cash Provided by Operating Activities of $145.9 Million and Free Cash Flow of $119.8 Million\nGAAP Net Income of $17.5 Million\n\n SAN FRANCISCO--(BUSINESS WIRE)--\nDropbox, Inc. (NASDAQ: DBX), today announced financial results for its second fiscal quarter ended June 30, 2020.\n\n\n\"Our Q2 results are a testament to our teams’ hard work supporting our customers in this new environment,” said Dropbox Co-founder and Chief Executive Officer Drew Houston. “Over the past quarter, we introduced a number of products to help facilitate distributed work, addressing both team and personal use cases. With solid revenue growth, robust margin expansion, and continued GAAP profitability, we remain confident in the resiliency of our business.\"\n\n\nSecond Quarter Fiscal 2020 Results\n\n\n\nTotal revenue was $467.4 million, an increase of 16% from the same period last year. On a constant currency basis, year-over-year growth would have been 18%.(1)\n\n\n\n\nTotal ARR ended at $1.931 billion, an increase of $67.3 million quarter-over-quarter and an increase of 17% year-over-year. On a constant currency basis, year-over-year growth would have been 18%.(2)\n\n\n\n\nPaying users ended at 15.0 million, as compared to 13.6 million for the same period last year. Average revenue per paying user was $126.88, as compared to $120.48 for the same period last year.\n\n\n\n\nGAAP gross margin was 78.1%, as compared to 74.4% in the same period last year. Non-GAAP gross margin was 79.2%, as compared to 75.8% in the same period last year.\n\n\n\n\nGAAP operating margin was 2.7%, as compared to (8.5)% in the same period last year. Non-GAAP operating margin was 20.6%, as compared to 10.1% in the same period last year.\n\n\n\n\nGAAP net income (loss) was $17.5 million, as compared to ($21.4) million in the same period last year. Non-GAAP net income was $93.2 million, as compared to $42.0 million in the same period last year.\n\n\n\n\nNet cash provided by operating activities was $145.9 million, as compared to $128.8 million in the same period last year. Free cash flow was $119.8 million, as compared to $95.1 million in the same period last year.\n\n\n\n\nGAAP basic and diluted net income (loss) per share was $0.04, as compared to ($0.05) in the same period last year. Non-GAAP diluted net income per share w...